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Sep 26, 2012
09/12
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the situation in spain growing even worse because now there's this region in spain, catalonia, has announced there will be a referendum on whether or not they should secede from spain. this is an area that has long had an independence movement but now it's taken on much more strength, vigorous demonstrations in the capital of barcelona just last week. we look to see if and when the spanish government officially will ask for a bailout of some sort. those familiar with the thinking within the government say the prime minister is waiting the see how the markets react to the new budget announced tomorrow. b, how the markets react to the big announcement on friday about how much money their banks are going to need for recapitalization. what will his interest rates do? then he will decide from there. this whole issue of the independence movement in spain, think about this. the eu and the euro was supposed to be about european integration, and yet in spain it looks like it's threatening disintegration. >> catalonia is sort of -- if there was a 1%, that's where they live, right? >> absolutely, that'
the situation in spain growing even worse because now there's this region in spain, catalonia, has announced there will be a referendum on whether or not they should secede from spain. this is an area that has long had an independence movement but now it's taken on much more strength, vigorous demonstrations in the capital of barcelona just last week. we look to see if and when the spanish government officially will ask for a bailout of some sort. those familiar with the thinking within the...
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170
Sep 6, 2012
09/12
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in spain they just raised the v.a.t. tax 3% on a population with 24.5% unemployment, so i think that the fiscal adjustment is going to prove difficult. you probably won't get the stabilization of the economy. banking union could provide difficulties as well, so, yeah, there's a two-month window where the markets over here will probably not worry too much about that, particularly in the run-up to the u.s. elections but i think we get towards the end of the year and could very well be right back in the midst of a severe crisis. >> simon, maybe it's as simple as the actions today help remove catastrophe from the table. that simple? >> that's effectively the question that i'm asking there, and i think we should mention one other thing, michelle. you've done a lot of work on the idea that the ecb would take precedence in its bond-buying, if ever there were a restructuring, and importantly draghi has confirmed he's stepping down from that. >> right. >> the ecb will now be considered alongside the private sector from the work t
in spain they just raised the v.a.t. tax 3% on a population with 24.5% unemployment, so i think that the fiscal adjustment is going to prove difficult. you probably won't get the stabilization of the economy. banking union could provide difficulties as well, so, yeah, there's a two-month window where the markets over here will probably not worry too much about that, particularly in the run-up to the u.s. elections but i think we get towards the end of the year and could very well be right back...
201
201
Sep 18, 2012
09/12
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of course, everybody's trying to handicap will spain or won't spain. the clock is ticking, tick, tick, tick. everything is down so countries like spain can help. if you look at the dollar index to date, yes, we're down on the year. good news, the dollar is up a little bit today after falling close to 5% really since the previous fed meeting to this one. and there's some unintended consequences, maybe intended consequences. looking etf that represents the price, not the spread, the high yield securities or as we affectionately call it junk. it's hovering in the highs for sure. we're hovering at the best level since the summer of '08. back to you. >> thank you very much. let's check out the energy market and go to sharon epperson. sharon. >> everybody was trying to figure out what happened yesterday when we saw the drop in crude prices in about 60-minutes time. what happened? there are various reasons. perhaps speculation we're going see a release from the spr but the cme group said there was no technical glitch. the white house has said all options are
of course, everybody's trying to handicap will spain or won't spain. the clock is ticking, tick, tick, tick. everything is down so countries like spain can help. if you look at the dollar index to date, yes, we're down on the year. good news, the dollar is up a little bit today after falling close to 5% really since the previous fed meeting to this one. and there's some unintended consequences, maybe intended consequences. looking etf that represents the price, not the spread, the high yield...
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283
Sep 21, 2012
09/12
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talk of spain going ahead with structural reforms in order to win approval for that bailout. that, too, is providing force to the market. germany touched a 52-week high today. you guys touched on kb homes. i don't want to touch on it too much, a surprise lift there. darden restaurants opening close to a 52-week high or actually at a 52-week after after its earnings came in better than expected. what we're seeing there, of course, is strong performance of some of its smaller chains. that's helping with the upset. of course, melissa pointed out kors is higher. the company rating its forecast. this is having a negative impact on its rival coach today. right now, the dow is up 39 points. back to you. >> let's shift to the bonds. how is it going, risk? >> well, i'll tell you, it's been one full week now since we had that statement which was a week ago yesterday from the federal reserve regarding qe3. let's take a look at one-week charts and see exactly what some of the key credit markets are doing. ten year, our ten-year is down about six basis points on the week. if you look at o
talk of spain going ahead with structural reforms in order to win approval for that bailout. that, too, is providing force to the market. germany touched a 52-week high today. you guys touched on kb homes. i don't want to touch on it too much, a surprise lift there. darden restaurants opening close to a 52-week high or actually at a 52-week after after its earnings came in better than expected. what we're seeing there, of course, is strong performance of some of its smaller chains. that's...
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Sep 10, 2012
09/12
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as we await the constitutional move, the big question for many is whether, indeed, italy or spain will come forward now that draghi laid out the plan and request a bailout that could lead to the ecb intervening in their bond markets. maria bartiromo importantly has an interview with the italian prime minister that she recorded in italy in late -- on the edge of late promo. he told her because we appealed to europe to set up new mechanisms that could help countries in difficulty doesn't mean to say italy will necessarily apply. take a listen. >> under the current -- i believe what italy is doing in terms of domestic policies, both budgetary -- i mean fiscal discipline and structural reforms should be enough to reassure the markets. >> and you can see that interview tonight on "closing bell" with maria. in the meantime, italian yields moved substantially today. obviously down in the wake of all the action we had from mario draghi at the end of last week. more of a move ultimately on the spanish. here we go. 5.18 is where we are on the italian. spanish 10-year yield today we continue to h
as we await the constitutional move, the big question for many is whether, indeed, italy or spain will come forward now that draghi laid out the plan and request a bailout that could lead to the ecb intervening in their bond markets. maria bartiromo importantly has an interview with the italian prime minister that she recorded in italy in late -- on the edge of late promo. he told her because we appealed to europe to set up new mechanisms that could help countries in difficulty doesn't mean to...